The 70th FIFA Congress convened remotely for the first time, as all the 211 member associations joined via videoconference on Friday.
FIFA. (Photo: Twitter/@FIFAcom)
Football’s global governing body FIFA has predicted a drop of $120 million in revenue for the period 2019-2022 due to the Covid-19 pandemic, as the FIFA Congress approved a revised budget for the four-year financial cycle.
The 70th FIFA Congress convened remotely for the first time, as all the 211 member associations joined via videoconference on Friday.
The revised 2019-2022 revenue budget has been reduced from $6.56 billion to $6.44 billion. FIFA said the drop of $120 million reflected the effects of the Covid-19 pandemic, but insisted that investment in football would continue unchanged for the full 2019-2022 cycle, with a reduction in the expense budget to compensate for lower revenues, reports Xinhua news agency.
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Meanwhile, FIFA President Gianni Infantino restated FIFA’s support for the football community during the crisis.
“We have been able to act quickly and decisively. We have prepared the Covid-19 Relief Plan for a global value of $1.5 billion. This is unprecedented,” said Infantino.
Since the approval of the Covid-19 Relief Plan in June, FIFA has received applications from over 150 member associations.
“FIFA is not facing a crisis, but football is,” said Infantino. “The money goes where it has to go: to football and to help football.”
Infantino also reiterated FIFA’s prioritisation of women’s football through the recently-launched FIFA Women’s Development Program and investment totaling $ one billion over the current four-year cycle.
Additionally, the FIFA Congress also approved amendments relating to players switching national teams.
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